Over the last 6 months or so, ETH has been on a bearish market, dropping from the peak of $800 to below $200 in a matter of months. This unfortunate turn of events has left many traders and analysts wondering where Ethereum’s true bottom lies. However, the crypto has improved its stand over the last few days to attain a value lingering just under $230.

Why The Slump?
First off, it’s good to understand that in the crypto world, an influx of tokens released into the market might upset the market value of the particular cryptocurrency unfavorably. In the case of Ethereum (ETH), the price dip was largely as a result of big ICOs dumping their ETH holdings into the market to fund their business ventures.

The most impacting event occurred in May when 100,000 ETH worth $60 million (each valued $600 at the time) were dumped into the market, causing a sharp 15% price dip within weeks. By August, ETH’s value had thinned out to just $300, and another flood of 110,000 ETH in mid-August brought about another bearish sentiment that led to a further price dip.